HLIO 8-K
Helios Technologies, Inc. (HLIO)
z
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On August 10, 2026, Helios Technologies (the “Company”), issued the press release attached hereto as Exhibit 99.1 announcing its financial results for the second fiscal quarter of 2026.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 |
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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HELIOS TECHNOLOGIES, INC. |
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Date: |
August 10, 2026 |
By: |
/s/ Sean Bagan |
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Sean Bagan |
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HELIOS TECHNOLOGIES, INC. |
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Date: |
August 10, 2026 |
By: |
/s/ Jeremy Evans |
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Jeremy Evans |
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Exhibit 99.1 |
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NEWS RELEASE |
35 m+
FOR IMMEDIATE RELEASE |
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Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
SARASOTA, FL, August 10, 2026 — Helios Technologies, Inc. (NYSE: HLIO) (“Helios” or the “Company”), a global leader in highly engineered motion control and electronic controls technology, today reported financial results for the second quarter ended July 4, 2026.
“We extended the momentum we built to start the year and delivered another strong quarter, with second quarter sales at the high end of our guidance range and adjusted earnings exceeding the top end of our guidance. This marks our fourth consecutive quarter of double-digit pro-forma sales and order intake growth, demonstrating that the strategic actions we've taken over the past two years are translating into sustained operating and financial performance. Our continued margin expansion is an outcome of our volume outperformance, innovative products, and operating leverage gains. The commercial success reflects both the investments we've made in customer-facing capabilities and the product portfolio across our operating companies. We generated record second quarter and first half operating cash flow, have debt and leverage levels at multi-year lows, and returned incremental capital to shareholders through our long-standing dividend and ongoing share repurchases,” said Sean Bagan, President & Chief Executive Officer of Helios.
“The first half performance positions us well as we enter the second half of the year to continue to deliver progress toward The CORE Strategy and our 2030 financial targets. We remain focused on disciplined execution, strengthening our customer-centric go-to-market engine, and advancing our innovation and operational excellence initiatives. Supported by our strong cash generation and an ROIC-focused approach to capital allocation, we believe Helios is well positioned to navigate a range of macro environments, while continuing to create long-term shareholder value,” he concluded.
Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
August 10, 2026 Page 2 of 15 |
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Hydraulics Segment Summary
(Refer to sales by geographic region and segment data in accompanying tables)
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Hydraulics |
For The Three Months Ended |
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($ in millions) |
July 04, |
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June 28, |
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Change |
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% Change |
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Net sales |
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Americas |
$ |
57.2 |
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$ |
54.2 |
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$ |
3.0 |
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6 |
% |
EMEA |
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51.8 |
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46.1 |
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5.7 |
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12 |
% |
APAC |
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37.4 |
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40.6 |
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(3.2 |
) |
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(8 |
%) |
Total segment sales |
$ |
146.4 |
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$ |
140.9 |
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$ |
5.5 |
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4 |
% |
Gross profit |
$ |
50.6 |
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$ |
46.5 |
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$ |
4.1 |
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9 |
% |
Gross margin |
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34.6 |
% |
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33.0 |
% |
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160 |
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bps |
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SEA expenses |
$ |
21.7 |
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$ |
21.5 |
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$ |
0.2 |
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1 |
% |
Operating income |
$ |
28.9 |
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$ |
25.0 |
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$ |
3.9 |
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16 |
% |
Operating margin |
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19.7 |
% |
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17.7 |
% |
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200 |
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bps |
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General note: items may not sum or recalculate due to rounding
Electronics Segment Summary
(Refer to sales by geographic region and segment data in accompanying tables)
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Electronics |
For The Three Months Ended |
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($ in millions) |
July 04, |
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June 28, |
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Change |
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% Change |
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Net sales |
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Americas |
$ |
63.0 |
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$ |
53.7 |
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$ |
9.3 |
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17 |
% |
EMEA |
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9.1 |
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8.5 |
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0.6 |
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7 |
% |
APAC |
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13.4 |
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9.4 |
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4.0 |
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43 |
% |
Total segment sales |
$ |
85.5 |
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$ |
71.6 |
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$ |
13.9 |
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19 |
% |
Gross profit |
$ |
29.6 |
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$ |
21.0 |
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$ |
8.6 |
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41 |
% |
Gross margin |
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34.6 |
% |
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29.3 |
% |
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530 |
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bps |
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SEA expenses |
$ |
18.4 |
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$ |
15.1 |
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$ |
3.3 |
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22 |
% |
Operating income |
$ |
11.2 |
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$ |
5.9 |
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$ |
5.3 |
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90 |
% |
Operating margin |
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13.1 |
% |
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8.2 |
% |
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490 |
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bps |
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General note: items may not sum or recalculate due to rounding
Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
August 10, 2026 Page 3 of 15 |
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Second Quarter 2026 Consolidated Results
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For The Three Months Ended |
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($ in millions, except per share data) |
July 04, |
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June 28, |
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Change |
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% Change |
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Net sales |
$ |
231.9 |
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$ |
212.5 |
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$ |
19.4 |
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9 |
% |
Gross profit |
$ |
80.2 |
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$ |
67.5 |
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$ |
12.7 |
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19 |
% |
Gross margin |
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34.6 |
% |
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31.8 |
% |
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280 |
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bps |
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Operating income |
$ |
32.5 |
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$ |
21.9 |
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$ |
10.6 |
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48 |
% |
Operating margin |
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14.0 |
% |
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10.3 |
% |
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370 |
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bps |
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Non-GAAP adjusted operating margin* |
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17.8 |
% |
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15.0 |
% |
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280 |
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bps |
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Net income |
$ |
21.9 |
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$ |
11.4 |
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$ |
10.5 |
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92 |
% |
Diluted EPS |
$ |
0.66 |
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$ |
0.34 |
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$ |
0.32 |
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94 |
% |
Non-GAAP adjusted net income |
$ |
29.2 |
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$ |
19.5 |
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$ |
9.7 |
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50 |
% |
Non-GAAP adjusted diluted EPS* |
$ |
0.88 |
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$ |
0.59 |
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$ |
0.29 |
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49 |
% |
Adjusted EBITDA* |
$ |
49.3 |
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$ |
39.5 |
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$ |
9.8 |
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25 |
% |
Adjusted EBITDA margin* |
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21.2 |
% |
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18.6 |
% |
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260 |
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bps |
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General note: items may not sum or recalculate due to rounding
* Adjusted numbers are not measures determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Nevertheless, Helios believes that providing these specific Non-GAAP figures are important for investors and other readers of Helios financial statements, as they are used as analytical indicators by Helios management to better understand operating performance. These Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered a substitute for GAAP. Please carefully review the attached Non-GAAP reconciliations to the most directly comparable GAAP measures and the related additional information provided throughout. Because these metrics are Non-GAAP measures and are thus susceptible to varying calculations, these figures, as presented, may not be directly comparable to other similarly titled measures used by other companies.
Raising Full Year 2026 and Establishing Third Quarter 2026 Outlook1
Jeremy Evans, Executive Vice President, Chief Financial Officer, commented, “As we look to the second half of 2026, we do so from a position of strength, built on solid execution in the first half. We increased sales 16% on a pro-forma basis in the second quarter, expanded adjusted EBITDA margin above 21%, and continued to deliver significant year-over-year growth in earnings per share. While we remain mindful of the tougher comparisons in the back half and ongoing external factors, including geopolitical uncertainty, tariff dynamics, and broader inflationary pressures, our confidence in the business, new business wins, and our visibility into near-term demand support raising the full year outlook for sales and earnings. We will stay focused on disciplined operational execution and investing in high-return opportunities, positioning the Company for continued growth consistent with The CORE Strategy's 2030 targets."
The following provides the Company’s expectations for 2026 as of August 10, 2026. This assumes constant currency, based on ending second quarter 2026 foreign exchange rates.
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Prior FY26 Outlook |
New FY26 Outlook |
3Q26 Outlook |
Sales |
$840 to $870 million |
$880 to $900 million |
$215 to $222 million |
Adjusted EBITDA margin |
19.5% to 21.0% |
20.2% to 21.0% |
19.8% to 20.6% |
Adjusted diluted EPS |
$2.75 to $3.00 |
$3.05 to $3.25 |
$0.70 to $0.77 |
1 Reference "Second Quarter 2026 Earnings Presentation" slides for details and assumptions.
Forward-looking Adjusted EBITDA Margin and adjusted diluted EPS represent Non-GAAP financial measures. The Company has presented the comparable GAAP figures in the tables that follow. See comments on reconciliation of forward-looking non-GAAP financial measures in the Forward-Looking Information included in this release describing the safe harbor provided within the meaning of Section 21E of the Securities Exchange Act of 1934.
Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
August 10, 2026 Page 4 of 15 |
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Webcast
The Company will host a conference call and webcast tomorrow, Tuesday, August 11, 2026, at 9:00 a.m. Eastern Time to review its financial and operating results and discuss its outlook. A question-and-answer session will follow. The conference call can be accessed by calling (201) 689-8573. The audio webcast will be available at www.heliostechnologies.com.
A telephonic replay will be available from approximately 1:00 p.m. ET on the day of the call through
Tuesday, August 25, 2026. To listen to the archived call, dial (412) 317-6671 and enter conference ID number 13761179. The webcast replay will be available in the investor relations section of the Company’s website at www.heliostechnologies.com.
About Helios Technologies
Helios Technologies is a global leader in highly engineered motion control and electronic controls technology, providing premium products that ensure safety, reliability, and seamless connectivity to diverse end markets including agriculture, construction, data centers, energy, health and wellness, industrial, marine, material handling, and recreational vehicles. Helios sells its products to customers in over 80 countries around the world. Its strategy is to be a diversified, customer-centric global enterprise distinguished by innovation, operational speed, and a high-performance culture. The Company has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997. For more information please visit: www.heliostechnologies.com and follow us on LinkedIn.
FORWARD-LOOKING INFORMATION
This news release contains “forward‐looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward‐looking statements involve risks and uncertainties, and actual results may differ materially from those expressed or implied by such statements. They include statements regarding current expectations, estimates, forecasts, projections, our beliefs, and assumptions made by Helios Technologies, Inc. (“Helios,” the “Company,” "we," "us," or "our"), its directors or its officers about the Company and the industry in which it operates, and assumptions made by management, and include among other items, (i) the Company’s strategies regarding growth, and improving margins, including its intention to develop new products and undertake acquisitions and divestitures; (ii) the Company's strategy and progress toward The CORE Strategy and 2030 financial targets; (iii) the effectiveness of creating the Centers of Excellence; (iv) its financial plans, results, outlook, and guidance, including expectations for sales, margins, and earnings per share; (v) trends affecting the Company’s financial condition or results of operations; (vi) the Company’s ability to continue to control costs and to meet its liquidity and other financing needs; (vii) the Company’s ability to declare and pay dividends; (viii) the Company’s ability to respond to changes in customer demand domestically and internationally, including as a result of the cyclical nature of the business; (ix) the Company's expectations regarding its capital allocation strategy, including share repurchases and debt reduction; and (x) the Company's ability to mitigate the impacts of changes in trade policy, tariffs and related regulatory developments on our business. In addition, we may make other written or oral statements, which constitute forward-looking statements, from time to time. Words such as “may,” “expects,” “projects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words, and similar expressions are intended to identify such forward-looking statements. Similarly, statements that describe our future plans, objectives or goals also are forward-looking statements. These statements are not guarantees of future performance and are subject to a number of risks and uncertainties. Our actual results may differ materially from what is expressed or forecasted in such forward-looking statements, and undue reliance should not be placed on such statements. All forward-looking statements are made as of the date hereof, and we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward‐looking statements include, but are not limited to, (i) the Company’s ability to respond to global economic trends and changes in customer demand domestically and internationally, including as a result of standardization and the cyclical nature of our business, which can adversely affect the demand for capital goods; (ii) supply chain disruption and the potential inability to procure goods; (iii) conditions in the capital markets, including the interest rate environment and the continued availability of capital on terms acceptable to us, or at all (or hyperinflation); (iv) global and regional economic and political conditions, including trade policy, tariffs and other trade barriers, inflation, exchange rates, changes in the cost or availability of energy, transportation, the
Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
August 10, 2026 Page 5 of 15 |
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availability of other necessary supplies and services and recession; (v) changes in the competitive marketplace that could affect the Company’s revenue and/or cost basis, such as increased competition, lack of qualified engineering, marketing, management or other personnel and increased labor and raw materials costs; (vi) risks related to the development, introduction, and market acceptance of new products and technologies, including the integration of artificial intelligence into our operations and products; (vii) health epidemics, pandemics and similar outbreaks, which may have material adverse effects on our business, financial position, results of operations and/or cash flows; (viii) risks related to our international operations, including the potential impact from the ongoing geopolitical conflicts in Ukraine and the Middle East; (ix) new product introductions, product sales mix and the geographic mix of sales nationally and internationally; and (x) stakeholders’, including regulators’, views regarding our environmental, social and governance goals and initiatives, and the impact of factors outside of our control on such goals and initiatives. Further information relating to additional factors that could cause actual results to differ from those anticipated is included but not limited to information under the heading Item 1. “Business” and Item 1A. “Risk Factors” in the Company’s Form 10-K for the year ended January 3, 2026, filed with the Securities and Exchange Commission (SEC) on March 3, 2026, as well as any subsequent filings with the SEC.
Helios has presented Non-GAAP measures including adjusted operating income, adjusted operating margin, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, net debt-to-adjusted EBITDA, adjusted net income, adjusted diluted earnings per share, adjusted net income per diluted share, free cash flow, adjusted free cash flow, adjusted free cash flow conversion, sales in constant currency, and pro-forma sales. Helios believes that providing these specific Non-GAAP figures are important for investors and other readers of Helios financial statements, as they are used as analytical indicators by Helios management to better understand operating performance. The determination of the amounts that are excluded from these Non-GAAP measures is a matter of management judgment and depends upon, among other factors, the nature of the underlying expense or income recognized in a given period. You should not consider the inclusion of this additional information in isolation or as a substitute for results prepared in accordance with GAAP. Please carefully review the Non-GAAP reconciliations to the most directly comparable GAAP measures and the related additional information provided throughout. Because these metrics are Non-GAAP measures and are thus susceptible to varying calculations, these figures, as presented, may not be directly comparable to other similarly titled measures used by other companies.
This news release also presents forward-looking statements regarding Non-GAAP measures, including adjusted EBITDA margin and adjusted diluted earnings per share. The Company is unable to present a quantitative reconciliation of these forward-looking Non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures because such information is not available, and management cannot reliably predict the necessary components of such GAAP measures without unreasonable effort or expense. In addition, the Company believes that such reconciliations would imply a degree of precision that would be confusing or misleading to investors. The unavailable information could have a significant impact on the Company’s 2026 financial results. These Non-GAAP financial measures are preliminary estimates and are subject to risks and uncertainties, including, among others, changes in connection with quarter-end and year-end adjustments. Any variation between the Company’s actual results and preliminary financial data set forth above may be material.
For more information, contact:
Tania Almond
Vice President, Investor Relations & Corporate Communication
(941) 362-1333
Deborah Pawlowski
Alliance Advisors IR
(716) 843-3908
Financial Tables Follow:
Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
August 10, 2026 Page 6 of 15 |
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HELIOS TECHNOLOGIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
(Unaudited)
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For The Three Months Ended |
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For The Six Months Ended |
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July 04, |
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June 28, |
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% Change |
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July 04, |
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June 28, |
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% Change |
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Net sales |
$ |
231.9 |
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$ |
212.5 |
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9 |
% |
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$ |
460.3 |
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$ |
408.0 |
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13 |
% |
Cost of sales |
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151.7 |
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145.0 |
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5 |
% |
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305.2 |
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280.6 |
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9 |
% |
Gross profit |
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80.2 |
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67.5 |
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19 |
% |
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155.1 |
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127.4 |
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22 |
% |
Gross margin |
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34.6 |
% |
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31.8 |
% |
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33.7 |
% |
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31.2 |
% |
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Selling, engineering and administrative expense |
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40.2 |
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37.3 |
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8 |
% |
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77.6 |
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71.9 |
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8 |
% |
Amortization of intangible assets |
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7.5 |
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8.3 |
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(10 |
)% |
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15.1 |
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16.5 |
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(8 |
)% |
Operating income |
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32.5 |
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21.9 |
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|
48 |
% |
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|
62.4 |
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39.0 |
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|
60 |
% |
Operating margin |
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14.0 |
% |
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10.3 |
% |
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13.6 |
% |
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9.6 |
% |
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Interest expense, net |
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4.7 |
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7.0 |
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(33 |
)% |
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9.8 |
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14.4 |
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(32 |
)% |
Foreign currency transaction loss, net |
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0.1 |
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0.5 |
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(80 |
)% |
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(0.5 |
) |
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0.6 |
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(183 |
)% |
Other non-operating (income) expense, net |
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(0.4 |
) |
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(0.5 |
) |
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(20 |
)% |
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(0.6 |
) |
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(0.4 |
) |
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|
50 |
% |
Income before income taxes |
|
28.1 |
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|
14.9 |
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|
89 |
% |
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|
53.7 |
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24.4 |
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|
120 |
% |
Income tax provision |
|
6.2 |
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3.5 |
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|
77 |
% |
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|
12.1 |
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5.8 |
|
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|
109 |
% |
Net income |
$ |
21.9 |
|
|
$ |
11.4 |
|
|
|
92 |
% |
|
$ |
41.6 |
|
|
$ |
18.6 |
|
|
|
124 |
% |
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Net income per share: |
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|
||||||
Basic |
$ |
0.66 |
|
|
$ |
0.34 |
|
|
|
94 |
% |
|
$ |
1.26 |
|
|
$ |
0.56 |
|
|
|
125 |
% |
Diluted |
$ |
0.66 |
|
|
$ |
0.34 |
|
|
|
94 |
% |
|
$ |
1.25 |
|
|
$ |
0.56 |
|
|
|
123 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Basic |
|
33.0 |
|
|
|
33.3 |
|
|
|
|
|
|
33.1 |
|
|
|
33.3 |
|
|
|
|
||
Diluted |
|
33.2 |
|
|
|
33.3 |
|
|
|
|
|
|
33.2 |
|
|
|
33.4 |
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Dividends declared per share |
$ |
0.12 |
|
|
$ |
0.09 |
|
|
|
|
|
$ |
0.24 |
|
|
$ |
0.18 |
|
|
|
|
||
Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
August 10, 2026 Page 7 of 15 |
|
HELIOS TECHNOLOGIES
CONSOLIDATED BALANCE SHEETS
(In millions, except per share data)
|
July 04, |
|
|
January 03, |
|
||
|
(Unaudited) |
|
|
|
|
||
Assets |
|
|
|
|
|
||
Current assets: |
|
|
|
|
|
||
Cash and cash equivalents |
$ |
68.0 |
|
|
$ |
73.0 |
|
Accounts receivable, net of allowance for credit losses of $3.5 and $1.4 |
|
140.6 |
|
|
|
116.0 |
|
Inventories, net |
|
194.0 |
|
|
|
188.6 |
|
Income taxes receivable |
|
9.7 |
|
|
|
15.4 |
|
Other current assets |
|
26.4 |
|
|
|
21.9 |
|
Total current assets |
|
438.7 |
|
|
|
414.9 |
|
Property, plant and equipment, net |
|
209.6 |
|
|
|
206.6 |
|
Deferred income taxes |
|
2.2 |
|
|
|
1.9 |
|
Goodwill |
|
491.5 |
|
|
|
498.1 |
|
Other intangible assets, net |
|
350.3 |
|
|
|
369.9 |
|
Other assets |
|
23.7 |
|
|
|
23.1 |
|
Total assets |
$ |
1,516.0 |
|
|
$ |
1,514.5 |
|
Liabilities and shareholders’ equity |
|
|
|
|
|
||
Current liabilities: |
|
|
|
|
|
||
Accounts payable |
$ |
87.9 |
|
|
$ |
75.6 |
|
Accrued compensation and benefits |
|
19.9 |
|
|
|
23.3 |
|
Other accrued expenses and current liabilities |
|
33.8 |
|
|
|
23.0 |
|
Current portion of long-term non-revolving debt, net |
|
- |
|
|
|
5.4 |
|
Dividends payable |
|
4.0 |
|
|
|
3.0 |
|
Income taxes payable |
|
14.3 |
|
|
|
12.9 |
|
Total current liabilities |
|
159.9 |
|
|
|
143.2 |
|
Revolving lines of credit |
|
105.4 |
|
|
|
105.5 |
|
Long-term non-revolving debt, net |
|
226.1 |
|
|
|
256.2 |
|
Deferred income taxes |
|
51.0 |
|
|
|
52.4 |
|
Other noncurrent liabilities |
|
25.3 |
|
|
|
25.7 |
|
Total liabilities |
|
567.7 |
|
|
|
583.0 |
|
Note 15 - Commitments and contingencies |
|
|
|
|
|
||
Shareholders’ equity: |
|
|
|
|
|
||
Preferred stock, par value $0.001, 2.0 shares authorized, |
|
|
|
|
|
||
no shares issued or outstanding |
|
- |
|
|
|
- |
|
Common stock, par value $0.001, 100.0 shares authorized, |
|
|
|
|
|
||
33.5 and 33.4 shares issued; 33.0 and 33.1 outstanding at July 04, 2026 and January 03, 2026, respectively |
|
- |
|
|
|
- |
|
Capital in excess of par value |
|
448.1 |
|
|
|
442.9 |
|
Treasury stock, at cost, 0.5 and 0.3 shares, respectively |
|
(24.3 |
) |
|
|
(13.6 |
) |
Accumulated other comprehensive loss |
|
(48.2 |
) |
|
|
(36.9 |
) |
Retained earnings |
|
572.7 |
|
|
|
539.1 |
|
Total shareholders’ equity |
|
948.3 |
|
|
|
931.5 |
|
Total liabilities and shareholders’ equity |
$ |
1,516.0 |
|
|
$ |
1,514.5 |
|
|
|
|
|
|
|
||
Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
August 10, 2026 Page 8 of 15 |
|
HELIOS TECHNOLOGIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
|
For The Six Months Ended |
|
|||||
|
July 04, |
|
|
June 28, |
|
||
Cash flows from operating activities: |
|
|
|
|
|
||
Net income |
$ |
41.6 |
|
|
$ |
18.6 |
|
Adjustments to reconcile net income to |
|
|
|
|
|
||
net cash provided by operating activities: |
|
|
|
|
|
||
Depreciation and amortization |
|
30.3 |
|
|
|
31.9 |
|
Loss on disposal of assets |
|
0.1 |
|
|
|
0.1 |
|
(Gain) on sale of business, net of CTA loss |
|
(0.4 |
) |
|
|
- |
|
Stock-based compensation expense |
|
4.2 |
|
|
|
2.9 |
|
Amortization of debt issuance costs |
|
0.4 |
|
|
|
0.4 |
|
Benefit for deferred income taxes |
|
(1.5 |
) |
|
|
(1.4 |
) |
Other, net |
|
3.1 |
|
|
|
0.5 |
|
(Increase) decrease in, net of acquisitions: |
|
|
|
|
|
||
Accounts receivable |
|
(27.3 |
) |
|
|
(23.4 |
) |
Inventories |
|
(7.9 |
) |
|
|
(1.7 |
) |
Income taxes receivable |
|
5.6 |
|
|
|
6.5 |
|
Other current assets |
|
(5.0 |
) |
|
|
2.1 |
|
Other assets |
|
- |
|
|
|
(1.3 |
) |
Increase (decrease) in, net of acquisitions: |
|
|
|
|
|
||
Accounts payable |
|
13.0 |
|
|
|
21.4 |
|
Accrued expenses and other liabilities |
|
7.9 |
|
|
|
4.2 |
|
Income taxes payable |
|
1.5 |
|
|
|
(2.8 |
) |
Other noncurrent liabilities |
|
0.2 |
|
|
|
(2.0 |
) |
Net cash provided by operating activities |
|
65.8 |
|
|
|
56.0 |
|
Cash flows from investing activities: |
|
|
|
|
|
||
Capital expenditures |
|
(18.0 |
) |
|
|
(11.5 |
) |
Proceeds from dispositions of property, plant and equipment |
|
- |
|
|
|
0.2 |
|
Business divestiture proceeds |
|
0.4 |
|
|
|
- |
|
Software development costs |
|
(1.6 |
) |
|
|
(1.9 |
) |
Net cash used in investing activities |
|
(19.2 |
) |
|
|
(13.2 |
) |
Cash flows from financing activities: |
|
|
|
|
|
||
Borrowings on revolving credit facilities |
|
80.5 |
|
|
|
20.6 |
|
Repayment of borrowings on revolving credit facilities |
|
(78.0 |
) |
|
|
(38.4 |
) |
Repayment of borrowings on long-term non-revolving debt |
|
(35.6 |
) |
|
|
(7.8 |
) |
Proceeds from stock issued |
|
1.3 |
|
|
|
0.9 |
|
Treasury stock purchases |
|
(10.6 |
) |
|
|
(6.5 |
) |
Dividends paid to shareholders |
|
(6.9 |
) |
|
|
(6.0 |
) |
Payment of employee tax withholding on equity award vestings |
|
(0.3 |
) |
|
|
(0.5 |
) |
Other financing activities |
|
(1.0 |
) |
|
|
(0.8 |
) |
Net cash used in financing activities |
|
(50.6 |
) |
|
|
(38.5 |
) |
Effect of exchange rate changes on cash and cash equivalents |
|
(1.0 |
) |
|
|
4.6 |
|
Net (decrease) increase in cash and cash equivalents |
|
(5.0 |
) |
|
|
8.9 |
|
Cash and cash equivalents, beginning of period |
|
73.0 |
|
|
|
44.1 |
|
Cash and cash equivalents, end of period |
$ |
68.0 |
|
|
$ |
53.0 |
|
Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
August 10, 2026 Page 9 of 15 |
|
HELIOS TECHNOLOGIES
SEGMENT DATA
(In millions)
(Unaudited)
|
For The Three Months Ended |
|
|
For The Six Months Ended |
|
||||||||||
|
July 04, |
|
|
June 28, |
|
|
July 04, |
|
|
June 28, |
|
||||
Net sales: |
|
|
|
|
|
|
|
|
|
|
|
||||
Hydraulics |
$ |
146.4 |
|
|
$ |
140.9 |
|
|
$ |
285.6 |
|
|
$ |
267.3 |
|
Electronics |
|
85.5 |
|
|
|
71.6 |
|
|
|
174.7 |
|
|
|
140.7 |
|
Consolidated |
$ |
231.9 |
|
|
$ |
212.5 |
|
|
$ |
460.3 |
|
|
$ |
408.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Gross profit and margin: |
|
|
|
|
|
|
|
|
|
|
|
||||
Hydraulics |
$ |
50.6 |
|
|
$ |
46.5 |
|
|
$ |
94.9 |
|
|
$ |
83.9 |
|
|
|
34.6 |
% |
|
|
33.0 |
% |
|
|
33.2 |
% |
|
|
31.4 |
% |
Electronics |
|
29.6 |
|
|
|
21.0 |
|
|
|
60.2 |
|
|
|
43.5 |
|
|
|
34.6 |
% |
|
|
29.3 |
% |
|
|
34.4 |
% |
|
|
30.9 |
% |
Consolidated |
$ |
80.2 |
|
|
$ |
67.5 |
|
|
$ |
155.1 |
|
|
$ |
127.4 |
|
|
|
34.6 |
% |
|
|
31.8 |
% |
|
|
33.7 |
% |
|
|
31.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Operating income (loss) and margin: |
|
|
|
|
|
|
|
|
|
|
|
||||
Hydraulics |
$ |
28.9 |
|
|
$ |
25.0 |
|
|
$ |
52.3 |
|
|
$ |
42.5 |
|
|
|
19.7 |
% |
|
|
17.7 |
% |
|
|
18.3 |
% |
|
|
15.9 |
% |
Electronics |
|
11.2 |
|
|
|
5.9 |
|
|
|
25.4 |
|
|
|
13.9 |
|
|
|
13.1 |
% |
|
|
8.2 |
% |
|
|
14.5 |
% |
|
|
9.9 |
% |
Corporate and other |
|
(7.6 |
) |
|
|
(9.0 |
) |
|
|
(15.3 |
) |
|
|
(17.4 |
) |
Consolidated |
$ |
32.5 |
|
|
$ |
21.9 |
|
|
$ |
62.4 |
|
|
$ |
39.0 |
|
|
|
14.0 |
% |
|
|
10.3 |
% |
|
|
13.6 |
% |
|
|
9.6 |
% |
Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
August 10, 2026 Page 10 of 15 |
|
HELIOS TECHNOLOGIES
Net Sales by Geographic Region and Segment
(In millions)
(Unaudited)
|
2026 |
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
Q1 |
|
|
% Change y/y |
|
Q2 |
|
|
% Change y/y |
|
YTD 2026 |
|
|
% Change y/y |
|
|
|
|
|
|
|
|
|
|
|||||
Americas: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Hydraulics |
$ |
56.7 |
|
|
14% |
|
$ |
57.2 |
|
|
6% |
|
$ |
113.9 |
|
|
9% |
|
|
|
|
|
|
|
|
|
|
||
Electronics |
|
72.0 |
|
|
27% |
|
|
63.0 |
|
|
17% |
|
|
135.0 |
|
|
22% |
|
|
|
|
|
|
|
|
|
|
||
Consol. Americas |
|
128.7 |
|
|
21% |
|
|
120.2 |
|
|
11% |
|
|
248.9 |
|
|
16% |
|
|
|
|
|
|
|
|
|
|
||
% of total |
|
57 |
% |
|
|
|
|
52 |
% |
|
|
|
|
54 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
||
EMEA: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Hydraulics |
$ |
49.2 |
|
|
30% |
|
$ |
51.8 |
|
|
12% |
|
$ |
101.0 |
|
|
20% |
|
|
|
|
|
|
|
|
|
|
||
Electronics |
|
8.6 |
|
|
39% |
|
|
9.1 |
|
|
7% |
|
|
17.7 |
|
|
20% |
|
|
|
|
|
|
|
|
|
|
||
Consol. EMEA |
|
57.8 |
|
|
31% |
|
|
60.9 |
|
|
12% |
|
|
118.7 |
|
|
20% |
|
|
|
|
|
|
|
|
|
|
||
% of total |
|
25 |
% |
|
|
|
|
26 |
% |
|
|
|
|
26 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
||
APAC: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Hydraulics |
$ |
33.3 |
|
|
(14%) |
|
$ |
37.4 |
|
|
(8%) |
|
$ |
70.7 |
|
|
(11%) |
|
|
|
|
|
|
|
|
|
|
||
Electronics |
|
8.6 |
|
|
39% |
|
|
13.4 |
|
|
43% |
|
|
22.0 |
|
|
41% |
|
|
|
|
|
|
|
|
|
|
||
Consol. APAC |
|
41.9 |
|
|
(6%) |
|
|
50.8 |
|
|
2% |
|
|
92.7 |
|
|
(2%) |
|
|
|
|
|
|
|
|
|
|
||
% of total |
|
18 |
% |
|
|
|
|
22 |
% |
|
|
|
|
20 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
||
Total |
$ |
228.4 |
|
|
17% |
|
$ |
231.9 |
|
|
9% |
|
$ |
460.3 |
|
|
13% |
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
2025 |
||||||||||||||||||||||||||||
|
Q1 |
|
|
% Change y/y |
|
Q2 |
|
|
% Change y/y |
|
Q3 |
|
|
% Change y/y |
|
Q4 |
|
|
% Change y/y |
|
Full Year |
|
|
% Change y/y |
|||||
Americas: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Hydraulics |
$ |
49.9 |
|
|
(11%) |
|
$ |
54.2 |
|
|
(9%) |
|
$ |
53.7 |
|
|
3% |
|
$ |
58.4 |
|
|
13% |
|
$ |
216.3 |
|
|
(1%) |
Electronics |
|
56.7 |
|
|
(2%) |
|
|
53.7 |
|
|
(7%) |
|
|
60.5 |
|
|
19% |
|
|
65.0 |
|
|
32% |
|
|
235.9 |
|
|
9% |
Consol. Americas |
|
106.6 |
|
|
(6%) |
|
|
107.9 |
|
|
(8%) |
|
|
114.2 |
|
|
11% |
|
|
123.4 |
|
|
22% |
|
|
452.2 |
|
|
4% |
% of total |
|
55 |
% |
|
|
|
|
51 |
% |
|
|
|
|
52 |
% |
|
|
|
|
59 |
% |
|
|
|
|
54 |
% |
|
|
EMEA: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Hydraulics |
$ |
37.9 |
|
|
(17%) |
|
$ |
46.1 |
|
|
8% |
|
$ |
41.2 |
|
|
12% |
|
$ |
43.3 |
|
|
35% |
|
$ |
168.5 |
|
|
7% |
Electronics |
|
6.2 |
|
|
(5%) |
|
|
8.5 |
|
|
(6%) |
|
|
9.8 |
|
|
49% |
|
|
5.7 |
|
|
21% |
|
|
30.1 |
|
|
13% |
Consol. EMEA |
|
44.1 |
|
|
(15%) |
|
|
54.6 |
|
|
5% |
|
|
51.0 |
|
|
18% |
|
|
49.0 |
|
|
33% |
|
|
198.6 |
|
|
8% |
% of total |
|
23 |
% |
|
|
|
|
26 |
% |
|
|
|
|
23 |
% |
|
|
|
|
23 |
% |
|
|
|
|
24 |
% |
|
|
APAC: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Hydraulics |
$ |
38.6 |
|
|
(6%) |
|
$ |
40.6 |
|
|
(6%) |
|
$ |
46.4 |
|
|
14% |
|
$ |
30.4 |
|
|
(15%) |
|
$ |
156.0 |
|
|
(3%) |
Electronics |
|
6.2 |
|
|
24% |
|
|
9.4 |
|
|
27% |
|
|
8.7 |
|
|
12% |
|
|
7.9 |
|
|
32% |
|
|
32.2 |
|
|
23% |
Consol. APAC |
|
44.8 |
|
|
(3%) |
|
|
50.0 |
|
|
(2%) |
|
|
55.1 |
|
|
14% |
|
|
38.3 |
|
|
(8%) |
|
|
188.2 |
|
|
1% |
% of total |
|
23 |
% |
|
|
|
|
23 |
% |
|
|
|
|
25 |
% |
|
|
|
|
18 |
% |
|
|
|
|
22 |
% |
|
|
Total |
$ |
195.5 |
|
|
(8%) |
|
$ |
212.5 |
|
|
(3%) |
|
$ |
220.3 |
|
|
13% |
|
$ |
210.7 |
|
|
17% |
|
$ |
839.0 |
|
|
4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
General note: items may not sum or recalculate due to rounding |
|||||||||||||||||||||||||||||
Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
August 10, 2026 Page 11 of 15 |
|
HELIOS TECHNOLOGIES
Non-GAAP Adjusted Operating Income & Non-GAAP Adjusted Operating Margin Reconciliation
(In millions)
(Unaudited)
|
For The Three Months Ended |
|
|
For The Six Months Ended |
|
||||||||||||||||||||||
|
July 04, |
|
Margin |
|
|
June 28, |
|
Margin |
|
|
July 04, |
|
Margin |
|
|
June 28, |
|
Margin |
|
||||||||
GAAP operating income |
$ |
32.5 |
|
|
14.0 |
% |
|
$ |
21.9 |
|
|
10.3 |
% |
|
$ |
62.4 |
|
|
13.6 |
% |
|
$ |
39.0 |
|
|
9.6 |
% |
Acquisition-related amortization |
|
7.5 |
|
|
3.2 |
% |
|
|
8.3 |
|
|
3.9 |
% |
|
|
15.1 |
|
|
3.3 |
% |
|
|
16.5 |
|
|
4.0 |
% |
Acquisition, divestiture, and financing- |
|
- |
|
|
0.0 |
% |
|
|
0.3 |
|
|
0.2 |
% |
|
|
0.1 |
|
|
0.0 |
% |
|
|
0.3 |
|
|
0.1 |
% |
Restructuring charges |
|
1.3 |
|
|
0.6 |
% |
|
|
0.8 |
|
|
0.4 |
% |
|
|
1.8 |
|
|
0.4 |
% |
|
|
1.2 |
|
|
0.3 |
% |
Officer transition costs |
|
- |
|
|
0.0 |
% |
|
|
0.4 |
|
|
0.2 |
% |
|
|
- |
|
|
0.0 |
% |
|
|
0.5 |
|
|
0.1 |
% |
Goodwill Impairment |
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
Other |
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
|
|
0.6 |
|
|
0.1 |
% |
Non-GAAP adjusted operating income |
$ |
41.3 |
|
|
17.8 |
% |
|
$ |
31.8 |
|
|
15.0 |
% |
|
$ |
79.5 |
|
|
17.3 |
% |
|
$ |
58.0 |
|
|
14.2 |
% |
GAAP operating margin |
|
14.0 |
% |
|
|
|
|
10.3 |
% |
|
|
|
|
13.6 |
% |
|
|
|
|
9.6 |
% |
|
|
||||
Non-GAAP adjusted operating margin |
|
17.8 |
% |
|
|
|
|
15.0 |
% |
|
|
|
|
17.3 |
% |
|
|
|
|
14.2 |
% |
|
|
||||
Net sales |
$ |
231.9 |
|
|
|
|
$ |
212.5 |
|
|
|
|
$ |
460.3 |
|
|
|
|
$ |
408.0 |
|
|
|
||||
General note: items may not sum or recalculate due to rounding
Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
August 10, 2026 Page 12 of 15 |
|
Non-GAAP Adjusted EBITDA & Non-GAAP Adjusted EBITDA Margin Reconciliation
(In millions)
(Unaudited)
|
For The Three Months Ended |
|
|
For The Six Months Ended |
|
||||||||||||||||||||||
|
July 04, |
|
Margin |
|
|
June 28, |
|
Margin |
|
|
July 04, |
|
Margin |
|
|
June 28, |
|
Margin |
|
||||||||
Net income |
$ |
21.9 |
|
|
9.4 |
% |
|
$ |
11.4 |
|
|
5.3 |
% |
|
$ |
41.6 |
|
|
9.0 |
% |
|
$ |
18.6 |
|
|
4.6 |
% |
Interest expense, net |
|
4.7 |
|
|
2.0 |
% |
|
|
7.0 |
|
|
3.3 |
% |
|
|
9.8 |
|
|
2.1 |
% |
|
|
14.4 |
|
|
3.5 |
% |
Income tax provision |
|
6.2 |
|
|
2.7 |
% |
|
|
3.5 |
|
|
1.7 |
% |
|
|
12.1 |
|
|
2.6 |
% |
|
|
5.8 |
|
|
1.4 |
% |
Depreciation and amortization |
|
15.2 |
|
|
6.6 |
% |
|
|
15.9 |
|
|
7.5 |
% |
|
|
30.3 |
|
|
6.6 |
% |
|
|
31.9 |
|
|
7.8 |
% |
EBITDA |
$ |
48.0 |
|
|
20.7 |
% |
|
$ |
37.8 |
|
|
17.8 |
% |
|
|
93.8 |
|
|
20.3 |
% |
|
|
70.7 |
|
|
17.3 |
% |
Acquisition, divestiture, and financing-related expenses |
|
- |
|
|
0.0 |
% |
|
|
0.3 |
|
|
0.2 |
% |
|
|
0.1 |
|
|
0.0 |
% |
|
|
0.3 |
|
|
0.1 |
% |
Restructuring charges |
|
1.3 |
|
|
0.6 |
% |
|
|
0.8 |
|
|
0.4 |
% |
|
|
1.8 |
|
|
0.4 |
% |
|
|
1.2 |
|
|
0.3 |
% |
Officer transition costs |
|
- |
|
|
0.0 |
% |
|
|
0.4 |
|
|
0.2 |
% |
|
|
- |
|
|
0.0 |
% |
|
|
0.5 |
|
|
0.1 |
% |
Goodwill Impairment |
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
(Gain) on sale of business - net of CTA loss |
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
|
|
(0.4 |
) |
|
-0.1 |
% |
|
|
- |
|
|
0.0 |
% |
Forward contract losses |
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
Change in fair value of contingent consideration |
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
Other |
|
- |
|
|
0.0 |
% |
|
|
0.1 |
|
|
0.0 |
% |
|
|
0.5 |
|
|
0.1 |
% |
|
|
0.6 |
|
|
0.2 |
% |
Adjusted EBITDA |
$ |
49.3 |
|
|
21.2 |
% |
|
$ |
39.5 |
|
|
18.6 |
% |
|
$ |
95.7 |
|
|
20.8 |
% |
|
$ |
73.3 |
|
|
18.0 |
% |
GAAP net income margin |
|
9.4 |
% |
|
|
|
|
5.3 |
% |
|
|
|
|
9.0 |
% |
|
|
|
|
4.6 |
% |
|
|
||||
EBITDA margin |
|
20.7 |
% |
|
|
|
|
17.8 |
% |
|
|
|
|
20.4 |
% |
|
|
|
|
17.3 |
% |
|
|
||||
Adjusted EBITDA margin |
|
21.2 |
% |
|
|
|
|
18.6 |
% |
|
|
|
|
20.8 |
% |
|
|
|
|
18.0 |
% |
|
|
||||
Net sales |
$ |
231.9 |
|
|
|
|
$ |
212.5 |
|
|
|
|
$ |
460.3 |
|
|
|
|
$ |
408.0 |
|
|
|
||||
General note: items may not sum or recalculate due to rounding
Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
August 10, 2026 Page 13 of 15 |
|
HELIOS TECHNOLOGIES
Non-GAAP Adjusted Net Income & Non-GAAP Adjusted Net Income Per Diluted Share Reconciliation
(In millions)
(Unaudited)
|
For The Three Months Ended |
|
|
For The Six Months Ended |
|
||||||||||||||||||||||
|
July 04, |
|
Per Diluted Share |
|
|
June 28, |
|
Per Diluted Share |
|
|
July 04, |
|
Per Diluted Share |
|
|
June 28, |
|
Per Diluted Share |
|
||||||||
GAAP net income |
$ |
21.9 |
|
$ |
0.66 |
|
|
$ |
11.4 |
|
$ |
0.34 |
|
|
$ |
41.6 |
|
$ |
1.25 |
|
|
$ |
18.6 |
|
$ |
0.56 |
|
Amortization of intangible assets |
|
8.1 |
|
|
0.24 |
|
|
|
8.8 |
|
|
0.26 |
|
|
|
16.3 |
|
|
0.49 |
|
|
|
17.5 |
|
|
0.53 |
|
Acquisition, divestiture, and financing-related expenses |
|
- |
|
|
- |
|
|
|
0.3 |
|
|
0.01 |
|
|
|
0.1 |
|
|
- |
|
|
|
0.3 |
|
|
0.01 |
|
Restructuring charges |
|
1.3 |
|
|
0.04 |
|
|
|
0.8 |
|
|
0.03 |
|
|
|
1.8 |
|
|
0.06 |
|
|
|
1.2 |
|
|
0.04 |
|
Officer transition costs |
|
- |
|
|
- |
|
|
|
0.4 |
|
|
0.01 |
|
|
|
- |
|
|
- |
|
|
|
0.5 |
|
|
0.01 |
|
(Gain) on sale of business, net of CTA loss |
|
- |
|
|
- |
|
|
|
- |
|
|
- |
|
|
|
(0.4 |
) |
|
(0.01 |
) |
|
|
- |
|
|
- |
|
Other |
|
- |
|
|
- |
|
|
|
0.1 |
|
|
- |
|
|
|
0.4 |
|
|
0.01 |
|
|
|
0.6 |
|
|
0.02 |
|
Tax effect of above |
|
(2.1 |
) |
|
(0.06 |
) |
|
|
(2.3 |
) |
|
(0.07 |
) |
|
|
(4.1 |
) |
|
(0.12 |
) |
|
|
(4.4 |
) |
|
(0.13 |
) |
Non-GAAP adjusted net income |
$ |
29.2 |
|
$ |
0.88 |
|
|
$ |
19.5 |
|
$ |
0.59 |
|
|
$ |
55.7 |
|
$ |
1.68 |
|
|
$ |
34.3 |
|
$ |
1.03 |
|
GAAP net income per diluted share |
$ |
0.66 |
|
|
|
|
$ |
0.34 |
|
|
|
|
$ |
1.25 |
|
|
|
|
$ |
0.56 |
|
|
|
||||
Non-GAAP adjusted net income per diluted share |
$ |
0.88 |
|
|
|
|
$ |
0.59 |
|
|
|
|
$ |
1.68 |
|
|
|
|
$ |
1.03 |
|
|
|
||||
General note: items may not sum or recalculate due to rounding
Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
August 10, 2026 Page 14 of 15 |
|
HELIOS TECHNOLOGIES
Pro Forma Non-GAAP Net Sales Growth Reconciliation
(In millions)
(Unaudited)
|
For The Three Months Ended |
|
|
For The Six Months Ended |
|
||||||||||||||||||
|
July 04, 2026 |
|
|
July 04, 2026 |
|
||||||||||||||||||
|
Hydraulics |
|
|
Electronics |
|
|
Consolidated |
|
|
Hydraulics |
|
|
Electronics |
|
|
Consolidated |
|
||||||
Net sales |
$ |
146.4 |
|
|
$ |
85.5 |
|
|
$ |
231.9 |
|
|
$ |
285.6 |
|
|
$ |
174.7 |
|
|
$ |
460.3 |
|
Impact of foreign currency translation * |
|
(2.4 |
) |
|
|
(0.5 |
) |
|
|
(2.9 |
) |
|
|
(7.7 |
) |
|
|
(0.8 |
) |
|
|
(8.5 |
) |
Net sales in constant currency |
$ |
144.0 |
|
|
$ |
85.0 |
|
|
$ |
229.0 |
|
|
$ |
277.9 |
|
|
$ |
173.9 |
|
|
$ |
451.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net sales growth |
|
5.5 |
|
|
|
13.9 |
|
|
|
19.4 |
|
|
|
18.3 |
|
|
|
34.0 |
|
|
|
52.3 |
|
% Change y/y |
|
4 |
% |
|
|
19 |
% |
|
|
9 |
% |
|
|
7 |
% |
|
|
24 |
% |
|
|
13 |
% |
Growth in constant currency |
|
3.1 |
|
|
|
13.4 |
|
|
|
16.5 |
|
|
|
10.6 |
|
|
|
33.2 |
|
|
|
43.9 |
|
% Change y/y |
|
2 |
% |
|
|
19 |
% |
|
|
8 |
% |
|
|
4 |
% |
|
|
24 |
% |
|
|
11 |
% |
Pro forma growth in constant currency |
|
18.1 |
|
|
|
13.4 |
|
|
|
31.5 |
|
|
|
39.8 |
|
|
|
33.2 |
|
|
|
73.1 |
|
% Change y/y |
|
14 |
% |
|
|
19 |
% |
|
|
16 |
% |
|
|
17 |
% |
|
|
24 |
% |
|
|
19 |
% |
* The impact from foreign currency translation is calculated by translating current period activity at average prior period exchange rates.
|
For The Three Months Ended |
|
|
For The Six Months Ended |
|
||||||||||||||||||
|
June 28, 2025 |
|
|
June 28, 2025 |
|
||||||||||||||||||
|
Hydraulics |
|
|
Electronics |
|
|
Consolidated |
|
|
Hydraulics |
|
|
Electronics |
|
|
Consolidated |
|
||||||
Net sales |
$ |
140.9 |
|
|
$ |
71.6 |
|
|
$ |
212.5 |
|
|
$ |
267.3 |
|
|
$ |
140.7 |
|
|
$ |
408.0 |
|
Less: divestiture of CFP |
|
(15.0 |
) |
|
|
- |
|
|
|
(15.0 |
) |
|
|
(29.2 |
) |
|
|
- |
|
|
|
(29.2 |
) |
Pro forma net sales |
$ |
125.9 |
|
|
$ |
71.6 |
|
|
$ |
197.5 |
|
|
$ |
238.1 |
|
|
$ |
140.7 |
|
|
$ |
378.7 |
|
General note: items may not sum or recalculate due to rounding
Helios Technologies Reports Second Quarter 2026 Results; Profitable Sales Growth Momentum Continues, Raising Full Year 2026 Outlook
August 10, 2026 Page 15 of 15 |
|
Net Debt-to-Adjusted EBITDA Reconciliation
(In millions)
(Unaudited)
|
|
As of |
|
|
As of |
|
||
|
|
July 04, |
|
|
June 28, |
|
||
Current portion of long-term non-revolving debt, net |
|
|
- |
|
|
|
24.5 |
|
Revolving lines of credit |
|
|
105.4 |
|
|
|
144.3 |
|
Long-term non-revolving debt, net |
|
|
226.1 |
|
|
|
267.4 |
|
Total debt |
|
|
331.5 |
|
|
|
436.2 |
|
Less: cash and cash equivalents |
|
|
68.0 |
|
|
|
53.0 |
|
Net debt |
|
|
263.5 |
|
|
|
383.2 |
|
TTM adjusted EBITDA |
|
|
183.1 |
|
|
|
145.1 |
|
Ratio of net debt to TTM adjusted EBITDA |
|
|
1.4 |
|
|
|
2.6 |
|
General note: items may not sum or recalculate due to rounding
Non-GAAP Financial Measures and Non-GAAP Forward-looking Financial Measures:
Adjusted operating income, adjusted operating margin, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, net debt-to-adjusted EBITDA, adjusted net income, adjusted diluted earnings per share, adjusted net income per diluted share, free cash flow, adjusted free cash flow, adjusted free cash flow conversion, sales in constant currency and pro forma sales are not measures determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Nevertheless, Helios believes that providing these specific Non-GAAP figures are important for investors and other readers of Helios financial statements, as they are used as analytical indicators by Helios management to better understand operating performance. These Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered a substitute for GAAP. Please carefully review the attached Non-GAAP reconciliations to the most directly comparable GAAP measures and the related additional information provided throughout. Because these metrics are Non-GAAP measures and are thus susceptible to varying calculations, these figures, as presented, may not be directly comparable to other similarly titled measures used by other companies. The Company does not provide a reconciliation of forward-looking Non-GAAP financial measures, such as adjusted EBITDA margin and adjusted diluted earnings per share, disclosed above in our 2026 Outlook, to their comparable GAAP financial measures because it could not do so without unreasonable effort due to the unavailability of the information needed to calculate reconciling items and due to the variability, complexity and limited visibility of the adjusting items that would be excluded from the Non-GAAP financial measures in future periods.